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Random News from Mining Top News

FieldPoint Petroleum Corporation Announces Stock Buyback

FieldPoint Petroleum Corporation announced that on October 6, 2008, its Board of Directors authorized the Company to repurchase shares of its Common Stock at an aggregate cost not to exceed $150,000. Stock purchases may be made in open market or privately-negotiated transactions, if and when management determines to effect purchases. Repurchases shall occur subject to [...]

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NovaGold Starts Gold Production at Rock Creek Mine in Nome, Alaska

NovaGold Resources Inc. announced that it has received regulatory authorizations and has begun production at its Rock Creek gold mine near Nome, Alaska. State regulators have approved the start of production, allowing NovaGold to begin fully processing ore and depositing inert tailings material into the Tailings Storage Facility. As part of the start up process [...]

Mine blaze damage not as bad as first thought

Operators of Tasmania’s Savage River iron ore mine in north-west Tasmania say damage from last week’s fire might not be as bad as was first thought.
The fire caused $10 million damage to the main processing mill.
However, there was some good news at the weekend when engineers managed to get the pipe that pumps the iron [...]

Oil Purification Systems Establishes New Oil and Gas Business Unit

Oil Purification Systems, the leader in fluid cleaning technology, today announced the formation of a new Oil and Gas Business Unit, and the appointment of Steve Carroll as president of the group. The newly formed business unit was established to provide additional support for OPS’ current and prospective customers in the oil and gas industry.
Carroll [...]

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Ivanhoe Australia Completes A$125 Million IPO

Ivanhoe Mines Executive Chairman Robert Friedland today announced the successful completion of subsidiary Ivanhoe Australia’s A$125 million initial public offering.
Ivanhoe Australia, which remains 80%-owned by Canada-based parent Ivanhoe Mines, will begin trading on the Australian Stock Exchange tomorrow (August 6) under the symbol IVA.
The Ivanhoe Australia IPO, which closed August 1, sold 62.5 million [...]

Wescan Goldfields confirms early application for coal dispositions in Saskatchewan

Wescan Goldfields Inc. is pleased to announce that it has applied for an extensive package of coal dispositions in the east central area of Saskatchewan. Coal permit applications covering approximately 240,000 hectares were submitted in April, in accordance with the Coal Disposition Act of Saskatchewan, immediately following the announcement of a significant coal discovery in [...]

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Developer revising Valrico plans

Sydney Mines Development Co. has withdrawn a request to change the county’s comprehensive plan for a 1,700-acre mixed-use development southeast of State Road 60 and Sydney Washer Road.
The County Commission unanimously accepted the withdrawal. A revised plan for the property is about a year away, said Carter McCain, an attorney representing the developer.
The company had [...]

Southwestern Resources Corp.: New Liam Joint Venture Partner

Southwestern Resources Corp. announce that Hochschild Mining plc has acquired Newmont Mining Peru Limited’s direct and indirect 50% interest in the Liam Regional Joint Venture and certain other related assets for total consideration of US$33.3 million cash.
As a result of the transaction, Southwestern and Hochschild will be 50/50 partners in the Liam Joint Venture. Pursuant [...]

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ION Completes Multi-client Acquisition Project Using FireFly

ION Geophysical Corporation announced today that it has successfully completed the acquisition phase of a multi-client seismic imaging project using its FireFly® cableless land acquisition system. The project was completed on time and under budget in a remote, environmentally sensitive area of northwest Colorado by the seismic contractor Geokinetics Inc., which ION selected to acquire [...]

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Patterson-UTI Reports Drilling Activity for August 2008

PATTERSON-UTI ENERGY, INC. reported that for the month of August 2008, the Company had an average of 278 drilling rigs operating, including 265 rigs in the U.S. and 13 rigs in Canada. For the two months ended August 2008, the Company had an average of 273 drilling rigs operating, including 261 rigs in the U.S. [...]

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